Trust Fund Plan
Definition of "Trust fund plan"
One of two basic types of funding instruments for pensions or employee benefits, in which responsibility for plan assets is vested in a trustee. The other type is known as an insured plan, whose assets are held by a life insurance company, typically under a group annuity contract that guarantees payment of benefits. A combination plan makes use of both approaches, with some contributions going to a trustee and the remainder to an insurance company.
Popular Insurance Terms
Type Of GUARANTEED INVESTMENTS CONTRACT in which funds for the contract are put in the insurance company's general account ...
Type of pension plan in which the employer (if noncontributory plan) or the employer and employee (if contributory plan) make level annual premium payments to fund the future retirement ...
Ratio commonly used by the property and casualty insurance industry as a measure of financial strength or to indicate to what degree a particular insurance company is leveraged. A low ratio ...
One that combines the two forms of ownership, stock and mutual. A stock insurance company is owned by stockholders, whereas a mutual insurance company is owned by its policyholders. A mixed ...
Instrument that uses noncombustible substances such as carbon dioxide to deprive a fire of oxygen, thereby extinguishing it. ...
Sickness incurred by the insured that does not require restriction of activity to the indoors. ...
Vehicle that is available to anyone in the United States as a means for savings in a tax-exempt fashion for college, graduate, or professional schools or other eligible accredited business, ...
Deductible amount between a basic health insurance plan and major medical insurance. ...
Trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the association is to further the common interests of its members. ...
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